Lists aren't just for kids. Before your next busy patch arrives, tick off our checklist to ensure you are in the best possible shape for the busy patch ahead.
Plan cash flow
Make sure your business has enough funds on hand to pay suppliers over the busy period, remembering your tax obligations are almost quarterly.
Prepare your cash flow forecasts well in advance and if things are tight consider holding off on big investments, renovations, and upgrades until cash flow eases.
Try marketing
As we all know, people love to spend money near holiday periods, so why not take advantage of the mood with a personalised promotional campaign? It’s not too late to send a marketing email to your customers thanking them for their business — and it can help build brand loyalty.
Review your website
Web traffic tends to spike over holiday periods, so make sure your website is working well without any glitches before you clock off. E-commerce problems can be hard to fix while everyone is away, so ensure web and mobile sites are up to speed.
Check your inventory
Don’t guesstimate your inventory or leave things to chance; make sure your business has enough stock to meet customer demand. Check how much stock you used in previous years for a guideline.
If you don't undertake regular stocktakes think about how you could introduce this into your teams roles. Loss of inventory or too much inventory can be a massive strain on a businesses cash flow.
Sort out staffing schedules
Getting to Christmas and discovering no one is rostered to cover late December and early January is a nightmare scenario. Avoid that worst-case outcome by planning ahead with your staff. Ensure employees take turns to cover the most inconvenient times of the year to keep things fair.
Chase up invoices
Chasing up late payments is a pet hate for every business owner. If you have overdue payments in the run-up to a peak period or even an off-season, chances are the situation will get even worse. Make sure you get paid in full before any shutdown period.
Get some rest
Long weekends and Christmas are an important time to get some well-earned rest, so schedule time to relax! A recent study found that New Zealand workers are more likely to suffer burnout than in any other country. Take the time to reset so you can walk your next peak period with the right mindset.
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